WHEN will you people WANTING TAX LOOPHOLES closed LEARN????

[g5000]

dblack raises another good point.

I have often said that there is natural wealth inequality and unnatural wealth inequality, and that we have unnatural wealth inequality that has been created legislatively.

The tax code is one way such inequality has been created.

If a special interest gets a tax break, the difference has to some out of someone else's hide. And that is textbook inequality.

The mortgage interest deduction is an example. This is an extremely regressive tax break that reaps a bigger benefit the higher your income.

If an industry gets a tax break, that gives them a financial leg up over a competing industry. Oil vs alternative energy, for example. This creates an unlevel playing field in the markets.

I would think every freedom loving American would be outraged at this widespread governmental interference.

It sounds wonderful ... but how do we get from HERE to there...

Start demanding it.

Congress will never mess with a system that ensures a 98 percent re-election rate for themselves. So a grassroots movement needs to make it a cause.

Perhaps a Constitutional amendment.

 

[Obamanation]

dblack raises another good point.

I have often said that there is natural wealth inequality and unnatural wealth inequality, and that we have unnatural wealth inequality that has been created legislatively.

The tax code is one way such inequality has been created.

If a special interest gets a tax break, the difference has to some out of someone else's hide. And that is textbook inequality.

The mortgage interest deduction is an example. This is an extremely regressive tax break that reaps a bigger benefit the higher your income.

If an industry gets a tax break, that gives them a financial leg up over a competing industry. Oil vs alternative energy, for example. This creates an unlevel playing field in the markets.

I would think every freedom loving American would be outraged at this widespread governmental interference.

It sounds wonderful ... but how do we get from HERE to there...

Start demanding it.

Congress will never mess with a system that ensures a 98 percent re-election rate for themselves. So a grassroots movement needs to make it a cause.

Perhaps a Constitutional amendment.

You are missing my point.

Corporations are give tax breaks to "help" us pay for insurance. You would have to get the corporations to increase our pay to enable us to pay for our own.

That is just one example. There are MANY!!!

All of those exemptions are dollars out of our pockets. Some involve multiple entities. You have to get all the entities on the same page before you can get the gov't to even MATTER.

 

[Obamanation]

It sounds wonderful ... but how do we get from HERE to there...

Start demanding it.

Congress will never mess with a system that ensures a 98 percent re-election rate for themselves. So a grassroots movement needs to make it a cause.

Perhaps a Constitutional amendment.

You are missing my point.

Corporations are give tax breaks to "help" us pay for insurance. You would have to get the corporations to increase our pay to enable us to pay for our own.

That is just one example. There are MANY!!!

All of those exemptions are dollars out of our pockets. Some involve multiple entities. You have to get all the entities on the same page before you can get the gov't to even MATTER.

So, I guess that idealogical pipe-dream isn;t reachable from where we are? Too bad --- it sounded to good to be true!

hmmmm

 

[Obamanation]

The next notion would be taking baby steps. Why don't we cut gov't spending??

 

[sealybobo]

This is absolutely the funniest issue yet...

All you people wanting those NASTY corporate TAX LOOPHOLES closed!
How about understanding WHAT the top 20 loopholes are before you stupidly cry for something THAT WILL COST YOU!

View attachment 24812

So how many of you people want to pay your employer health insurance premiums?
That's right the #1 tax deduction at $171 billion in 2012 was what your employer deducted from taxes that paid your premiums!

Or how about you want to have your employer no longer offer 401ks, etc...?
#2 is pension contributions and earnings $138 billion!

And # 3 is your deductions you idiots from your tax liability for MORTGAGE Interest!

Still want them closed?

Then of course your local city will have to pay MORE for municipal bonds because in 2012 $39 billion was not included !

And all you idiots who deducted child care?? CLOSE THAT LOOPHOLE costs Govt. $24 billion!

So think about it folks... just a little more FACTS and a lot less speculations regarding CLOSING THOSE EVIL LOOPHOLES
THAT will mostly affect YOU!

OH and those BIG BAD corporations taking evil loopholes for OIL,etc.??? LAST on the list at $11 billion!

Of the top 20 deductions 10 will directly harm the individual workers!

So should we close the loopholes that allow trump and every other rich person to pay zero federal taxes or not? I'm confused

 

[healthmyths]

This is absolutely the funniest issue yet...

All you people wanting those NASTY corporate TAX LOOPHOLES closed!
How about understanding WHAT the top 20 loopholes are before you stupidly cry for something THAT WILL COST YOU!

View attachment 24812

So how many of you people want to pay your employer health insurance premiums?
That's right the #1 tax deduction at $171 billion in 2012 was what your employer deducted from taxes that paid your premiums!

Or how about you want to have your employer no longer offer 401ks, etc...?
#2 is pension contributions and earnings $138 billion!

And # 3 is your deductions you idiots from your tax liability for MORTGAGE Interest!

Still want them closed?

Then of course your local city will have to pay MORE for municipal bonds because in 2012 $39 billion was not included !

And all you idiots who deducted child care?? CLOSE THAT LOOPHOLE costs Govt. $24 billion!

So think about it folks... just a little more FACTS and a lot less speculations regarding CLOSING THOSE EVIL LOOPHOLES
THAT will mostly affect YOU!

OH and those BIG BAD corporations taking evil loopholes for OIL,etc.??? LAST on the list at $11 billion!

Of the top 20 deductions 10 will directly harm the individual workers!

So should we close the loopholes that allow trump and every other rich person to pay zero federal taxes or not? I'm confused

I'm confused as to what loophole your exaggerated statement references?
HOW do you know he paid ZERO federal taxes? I know for a FACT his corporations PAID federal taxes but you and your ilk are
too dumb to know this!
In FACT every American corporation PAYS federal taxes and you dummies don't even know it!

 

[sealybobo]

This is absolutely the funniest issue yet...

All you people wanting those NASTY corporate TAX LOOPHOLES closed!
How about understanding WHAT the top 20 loopholes are before you stupidly cry for something THAT WILL COST YOU!

View attachment 24812

So how many of you people want to pay your employer health insurance premiums?
That's right the #1 tax deduction at $171 billion in 2012 was what your employer deducted from taxes that paid your premiums!

Or how about you want to have your employer no longer offer 401ks, etc...?
#2 is pension contributions and earnings $138 billion!

And # 3 is your deductions you idiots from your tax liability for MORTGAGE Interest!

Still want them closed?

Then of course your local city will have to pay MORE for municipal bonds because in 2012 $39 billion was not included !

And all you idiots who deducted child care?? CLOSE THAT LOOPHOLE costs Govt. $24 billion!

So think about it folks... just a little more FACTS and a lot less speculations regarding CLOSING THOSE EVIL LOOPHOLES
THAT will mostly affect YOU!

OH and those BIG BAD corporations taking evil loopholes for OIL,etc.??? LAST on the list at $11 billion!

Of the top 20 deductions 10 will directly harm the individual workers!

So should we close the loopholes that allow trump and every other rich person to pay zero federal taxes or not? I'm confused

I'm confused as to what loophole your exaggerated statement references?
HOW do you know he paid ZERO federal taxes? I know for a FACT his corporations PAID federal taxes but you and your ilk are
too dumb to know this!
In FACT every American corporation PAYS federal taxes and you dummies don't even know it!

That's just it. We know they don't. Remember you righties finally admitted it when Obama hired ge's CEO? Now you want to go back and deny it?

And then when we bust them you and Rudy call them geniuses for taking advantage? And trump himself blamed hillary. He said, "you don't like that I didn't pay taxes well why didn't you do anything about it?

 

[healthmyths]

This is absolutely the funniest issue yet...

All you people wanting those NASTY corporate TAX LOOPHOLES closed!
How about understanding WHAT the top 20 loopholes are before you stupidly cry for something THAT WILL COST YOU!

View attachment 24812

So how many of you people want to pay your employer health insurance premiums?
That's right the #1 tax deduction at $171 billion in 2012 was what your employer deducted from taxes that paid your premiums!

Or how about you want to have your employer no longer offer 401ks, etc...?
#2 is pension contributions and earnings $138 billion!

And # 3 is your deductions you idiots from your tax liability for MORTGAGE Interest!

Still want them closed?

Then of course your local city will have to pay MORE for municipal bonds because in 2012 $39 billion was not included !

And all you idiots who deducted child care?? CLOSE THAT LOOPHOLE costs Govt. $24 billion!

So think about it folks... just a little more FACTS and a lot less speculations regarding CLOSING THOSE EVIL LOOPHOLES
THAT will mostly affect YOU!

OH and those BIG BAD corporations taking evil loopholes for OIL,etc.??? LAST on the list at $11 billion!

Of the top 20 deductions 10 will directly harm the individual workers!

So should we close the loopholes that allow trump and every other rich person to pay zero federal taxes or not? I'm confused

I'm confused as to what loophole your exaggerated statement references?
HOW do you know he paid ZERO federal taxes? I know for a FACT his corporations PAID federal taxes but you and your ilk are
too dumb to know this!
In FACT every American corporation PAYS federal taxes and you dummies don't even know it!

That's just it. We know they don't. Remember you righties finally admitted it when Obama hired ge's CEO? Now you want to go back and deny it?

And then when we bust them you and Rudy call them geniuses for taking advantage? And trump himself blamed hillary. He said, "you don't like that I didn't pay taxes well why didn't you do anything about it?

But Trump is RIGHT! I don't think you seem to understand that
Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.
Billings Learned Hand (January 27, 1872 – August 18, 1961), usually called simply Learned Hand, was an American judge famous as an avid supporter of free speech and for applying economic reasoning to American tort law. He is noted as one of the most influential American judges to have never served on the Supreme Court of the United States. Learned Hand - Wikiquote

If Hillary was so against it why didn't she support legislation as a Senator to eliminate and by the way they are NOT loopholes...
they are legitimate ways to reduce according to the law of the land tax liabilities.
Besides Trump and EVERY corporation that has any employees PAYS Federal taxes. NO ONE seems to understand that!
Over $500 billion of the below tax receipts were paid by corporations in addition to their income taxes!

 

[sealybobo]

This is absolutely the funniest issue yet...

All you people wanting those NASTY corporate TAX LOOPHOLES closed!
How about understanding WHAT the top 20 loopholes are before you stupidly cry for something THAT WILL COST YOU!

View attachment 24812

So how many of you people want to pay your employer health insurance premiums?
That's right the #1 tax deduction at $171 billion in 2012 was what your employer deducted from taxes that paid your premiums!

Or how about you want to have your employer no longer offer 401ks, etc...?
#2 is pension contributions and earnings $138 billion!

And # 3 is your deductions you idiots from your tax liability for MORTGAGE Interest!

Still want them closed?

Then of course your local city will have to pay MORE for municipal bonds because in 2012 $39 billion was not included !

And all you idiots who deducted child care?? CLOSE THAT LOOPHOLE costs Govt. $24 billion!

So think about it folks... just a little more FACTS and a lot less speculations regarding CLOSING THOSE EVIL LOOPHOLES
THAT will mostly affect YOU!

OH and those BIG BAD corporations taking evil loopholes for OIL,etc.??? LAST on the list at $11 billion!

Of the top 20 deductions 10 will directly harm the individual workers!

So should we close the loopholes that allow trump and every other rich person to pay zero federal taxes or not? I'm confused

I'm confused as to what loophole your exaggerated statement references?
HOW do you know he paid ZERO federal taxes? I know for a FACT his corporations PAID federal taxes but you and your ilk are
too dumb to know this!
In FACT every American corporation PAYS federal taxes and you dummies don't even know it!

That's just it. We know they don't. Remember you righties finally admitted it when Obama hired ge's CEO? Now you want to go back and deny it?

And then when we bust them you and Rudy call them geniuses for taking advantage? And trump himself blamed hillary. He said, "you don't like that I didn't pay taxes well why didn't you do anything about it?

But Trump is RIGHT! I don't think you seem to understand that
Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.
Billings Learned Hand (January 27, 1872 – August 18, 1961), usually called simply Learned Hand, was an American judge famous as an avid supporter of free speech and for applying economic reasoning to American tort law. He is noted as one of the most influential American judges to have never served on the Supreme Court of the United States. Learned Hand - Wikiquote

If Hillary was so against it why didn't she support legislation as a Senator to eliminate and by the way they are NOT loopholes...
they are legitimate ways to reduce according to the law of the land tax liabilities.
Besides Trump and EVERY corporation that has any employees PAYS Federal taxes. NO ONE seems to understand that!
Over $500 billion of the below tax receipts were paid by corporations in addition to their income taxes!

View attachment 94796

So you agree trump doesn't pay federal taxes. Thanks for admitting it

 

[healthmyths]

This is absolutely the funniest issue yet...

All you people wanting those NASTY corporate TAX LOOPHOLES closed!
How about understanding WHAT the top 20 loopholes are before you stupidly cry for something THAT WILL COST YOU!

View attachment 24812

So how many of you people want to pay your employer health insurance premiums?
That's right the #1 tax deduction at $171 billion in 2012 was what your employer deducted from taxes that paid your premiums!

Or how about you want to have your employer no longer offer 401ks, etc...?
#2 is pension contributions and earnings $138 billion!

And # 3 is your deductions you idiots from your tax liability for MORTGAGE Interest!

Still want them closed?

Then of course your local city will have to pay MORE for municipal bonds because in 2012 $39 billion was not included !

And all you idiots who deducted child care?? CLOSE THAT LOOPHOLE costs Govt. $24 billion!

So think about it folks... just a little more FACTS and a lot less speculations regarding CLOSING THOSE EVIL LOOPHOLES
THAT will mostly affect YOU!

OH and those BIG BAD corporations taking evil loopholes for OIL,etc.??? LAST on the list at $11 billion!

Of the top 20 deductions 10 will directly harm the individual workers!

So should we close the loopholes that allow trump and every other rich person to pay zero federal taxes or not? I'm confused

I'm confused as to what loophole your exaggerated statement references?
HOW do you know he paid ZERO federal taxes? I know for a FACT his corporations PAID federal taxes but you and your ilk are
too dumb to know this!
In FACT every American corporation PAYS federal taxes and you dummies don't even know it!

That's just it. We know they don't. Remember you righties finally admitted it when Obama hired ge's CEO? Now you want to go back and deny it?

And then when we bust them you and Rudy call them geniuses for taking advantage? And trump himself blamed hillary. He said, "you don't like that I didn't pay taxes well why didn't you do anything about it?

But Trump is RIGHT! I don't think you seem to understand that
Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.
Billings Learned Hand (January 27, 1872 – August 18, 1961), usually called simply Learned Hand, was an American judge famous as an avid supporter of free speech and for applying economic reasoning to American tort law. He is noted as one of the most influential American judges to have never served on the Supreme Court of the United States. Learned Hand - Wikiquote

If Hillary was so against it why didn't she support legislation as a Senator to eliminate and by the way they are NOT loopholes...
they are legitimate ways to reduce according to the law of the land tax liabilities.
Besides Trump and EVERY corporation that has any employees PAYS Federal taxes. NO ONE seems to understand that!
Over $500 billion of the below tax receipts were paid by corporations in addition to their income taxes!

View attachment 94796

So you agree trump doesn't pay federal taxes. Thanks for admitting it

OH Trump's corporations paid federal taxes for damn sure! Just as every corporation, large and small pay federal taxes and dummies like you never are aware of the taxes they pay because frankly you've never written a payroll check! You've never paid one dime in Federal taxes as an employer! If you did then you would know I'm correct when I said Trump's businesses paid federal taxes! Of course you are so stupid you didn't see on the graph I put where those taxes come from because you are not too bright it appears!

 

[healthmyths]

Who said close all loopholes?

I have. Many times. All of them.

Close the unnecessary loopholes. Close loopholes for corps that don't need taxpayer assistance. As long as big corps get away with paying low to no taxes, while raking in record profits and giving their CEOs huge bonuses, spending cuts should not even be considered.

Every tax expenditure is an unnecessary boondoggle. Crowd pleasers that now add up to over one trillion dollars of lost revenue a year.

Tax expenditures should be banned. Every day, a new one is added to the tax code for special interest groups. In exchange, Congressmen get large campaign donations that ensure their 98 percent re-election rate, and that is not an exaggeration.


If we banned tax expenditures, it would have several positive effects:

1) Everyone's tax rates could be considerably lowered.

2) You could be certain that everyone in your income group is paying the exact same amount of taxes.

3) You would not be penalized for not buying the right energy source or light bulbs or refrigerator as you are right now. It is precisely because we have such tax penalties that the health insurance mandate was found to be constitutional.

4) A huge incentive for campaign cash donations to incumbents would be removed.

OK so let's take away the top three tax expenditures currently allowed.
1) employers' sponsored health insurance. This would mean $171 billion would have to be paid by the EMPLOYEES
for their health insurance. Great! That's what Obamacare is suppose to do right???
2) The deductions for 401ks, pension plans.. $138 billion. Again this means NOTHING being paid towards employees retirement. Totally dependent then on employees SS. Does this mean that deductions for SS would go up???
3) Mortgage interest. Most employees with home mortgages can deduct from their tax liability their interest payments.
CAP says that homeowners earning between $40,000 and $75,000 receive an average of $523 in tax savings from the mortgage interest deduction. So now the average American home owner would cost $523 more in federal taxes.
homeguides.sfgate.com/much-money-back-mortgage-interest-first-year-60862.html

 

[sealybobo]

Who said close all loopholes?

I have. Many times. All of them.

Close the unnecessary loopholes. Close loopholes for corps that don't need taxpayer assistance. As long as big corps get away with paying low to no taxes, while raking in record profits and giving their CEOs huge bonuses, spending cuts should not even be considered.

Every tax expenditure is an unnecessary boondoggle. Crowd pleasers that now add up to over one trillion dollars of lost revenue a year.

Tax expenditures should be banned. Every day, a new one is added to the tax code for special interest groups. In exchange, Congressmen get large campaign donations that ensure their 98 percent re-election rate, and that is not an exaggeration.


If we banned tax expenditures, it would have several positive effects:

1) Everyone's tax rates could be considerably lowered.

2) You could be certain that everyone in your income group is paying the exact same amount of taxes.

3) You would not be penalized for not buying the right energy source or light bulbs or refrigerator as you are right now. It is precisely because we have such tax penalties that the health insurance mandate was found to be constitutional.

4) A huge incentive for campaign cash donations to incumbents would be removed.

OK so let's take away the top three tax expenditures currently allowed.
1) employers' sponsored health insurance. This would mean $171 billion would have to be paid by the EMPLOYEES
for their health insurance. Great! That's what Obamacare is suppose to do right???
2) The deductions for 401ks, pension plans.. $138 billion. Again this means NOTHING being paid towards employees retirement. Totally dependent then on employees SS. Does this mean that deductions for SS would go up???
3) Mortgage interest. Most employees with home mortgages can deduct from their tax liability their interest payments.
CAP says that homeowners earning between $40,000 and $75,000 receive an average of $523 in tax savings from the mortgage interest deduction. So now the average American home owner would cost $523 more in federal taxes.
homeguides.sfgate.com/much-money-back-mortgage-interest-first-year-60862.html
View attachment 94865

Tax CEO pay above 5 million at 50%.

 

[healthmyths]

Who said close all loopholes?

I have. Many times. All of them.

Close the unnecessary loopholes. Close loopholes for corps that don't need taxpayer assistance. As long as big corps get away with paying low to no taxes, while raking in record profits and giving their CEOs huge bonuses, spending cuts should not even be considered.

Every tax expenditure is an unnecessary boondoggle. Crowd pleasers that now add up to over one trillion dollars of lost revenue a year.

Tax expenditures should be banned. Every day, a new one is added to the tax code for special interest groups. In exchange, Congressmen get large campaign donations that ensure their 98 percent re-election rate, and that is not an exaggeration.


If we banned tax expenditures, it would have several positive effects:

1) Everyone's tax rates could be considerably lowered.

2) You could be certain that everyone in your income group is paying the exact same amount of taxes.

3) You would not be penalized for not buying the right energy source or light bulbs or refrigerator as you are right now. It is precisely because we have such tax penalties that the health insurance mandate was found to be constitutional.

4) A huge incentive for campaign cash donations to incumbents would be removed.

OK so let's take away the top three tax expenditures currently allowed.
1) employers' sponsored health insurance. This would mean $171 billion would have to be paid by the EMPLOYEES
for their health insurance. Great! That's what Obamacare is suppose to do right???
2) The deductions for 401ks, pension plans.. $138 billion. Again this means NOTHING being paid towards employees retirement. Totally dependent then on employees SS. Does this mean that deductions for SS would go up???
3) Mortgage interest. Most employees with home mortgages can deduct from their tax liability their interest payments.
CAP says that homeowners earning between $40,000 and $75,000 receive an average of $523 in tax savings from the mortgage interest deduction. So now the average American home owner would cost $523 more in federal taxes.
homeguides.sfgate.com/much-money-back-mortgage-interest-first-year-60862.html
View attachment 94865

Tax CEO pay above 5 million at 50%.

I have a more fair and BETTER IDEA but people like you don't have the financial acumen to comprehend!
90% of physicians say they order duplicate tests, refer to specialists all because they fear being sued by lawyers!
As a result almost $500 to $800 BILLION a year is the estimated WASTED health expenses in insurance claims!

But doctors under federal contracts DON"T order, DON"T FEAR because of the 1946 Tort Reform.
http://www.jacksonhealthcare.com/media/8968/defensivemedicine_ebook_final.pdf
90% of physicians surveyed say they order $850 billion a year in wasted duplicate tests, referrals all out of FEAR of being SUED!
--- Emergency medicine, primary care, and OB/GYN physicians are most likely to practice defensive medicine.
--- 79 to 83% of surgeons and OB/GYNs have been named in lawsuits.
"Physicians contracted by the federal government practice significantly less defensive medicine as they are protected against lawsuits by the 1946 Federal Tort Claims Act. "
-- BUT........Only 48% practice defensive medicine compared to 92% of non-government physicians.

So why not TAX lawyers 10% of their $270 billion a year?
Take the $27 billion and use it to pay the annual premium per year of $5,000 for each of the truly less then
5 million people that needed AND WANTED health insurance.!

You want to tax CEOs well why not TAX the people that are causing the $500 - $850 billion in "defensive medicine" costs that is totally wasted!
The insurance companies don't care. They just raise the premiums!
Obamacare was passed on the false premise there were 46 million AMERICANS that were legal, were informed and wanted Health insurance and that was FALSE!
1) 10 million were illegal immigrants
2) 14 million didn't know they qualified for Medicaid!
3) 18 million make over $50,000 but didn't want OR NEED their health insurance.
Leaves less the 5 million... pay their premium when they go to the hospitals for emergency services!
This also would reduce dramatically hospitals paying for the "uninsured" and ALSO reduce Medicare costs!

BUT THIS won't happen with lawyers in charge of the WH/Congress.

Again enter Trump... NOT A LAWYER!!!

 

[g5000]

Wow. This is fricking weird. Why was a post I made three and a half years ago suddenly responded to this weekend?

???


Whatever. I'll play.

Who said close all loopholes?

I have. Many times. All of them.

Close the unnecessary loopholes. Close loopholes for corps that don't need taxpayer assistance. As long as big corps get away with paying low to no taxes, while raking in record profits and giving their CEOs huge bonuses, spending cuts should not even be considered.

Every tax expenditure is an unnecessary boondoggle. Crowd pleasers that now add up to over one trillion dollars of lost revenue a year.

Tax expenditures should be banned. Every day, a new one is added to the tax code for special interest groups. In exchange, Congressmen get large campaign donations that ensure their 98 percent re-election rate, and that is not an exaggeration.


If we banned tax expenditures, it would have several positive effects:

1) Everyone's tax rates could be considerably lowered.

2) You could be certain that everyone in your income group is paying the exact same amount of taxes.

3) You would not be penalized for not buying the right energy source or light bulbs or refrigerator as you are right now. It is precisely because we have such tax penalties that the health insurance mandate was found to be constitutional.

4) A huge incentive for campaign cash donations to incumbents would be removed.

OK so let's take away the top three tax expenditures currently allowed.
1) employers' sponsored health insurance. This would mean $171 billion would have to be paid by the EMPLOYEES
for their health insurance. Great! That's what Obamacare is suppose to do right???

Two things would happen if you took away the tax exemption for employer-sponsored health insurance (ESHI).

1. ESHI is an employee benefit. The exemption is income. If the exemption is removed, it is a reduction in income. Employees would therefore demand an increase in income to make up for the loss of the exemption.

2. Employees will no longer use ESHI and will buy in their insurance in the private market. This is the best option. This is what everyone SHOULD be doing. The tax exemption has grossly distorted the free market. It is government interference in free trade. It needs to go away.

2) The deductions for 401ks, pension plans.. $138 billion. Again this means NOTHING being paid towards employees retirement.

That is not what it means. It means less government interference in the market. And it means the market would decide how large your employee benefit is, not the government. It would mean you would be making your own financial decisions, instead of the government boxing you into a hostage situation.

3) Mortgage interest. Most employees with home mortgages can deduct from their tax liability their interest payments.

And that tax liability is factored into the cost of your house. Home prices are HIGHER because of the MID. Which means your MID is cancelled out by higher tax rates and higher home prices. You get NOTHING out of it.

So who is making out?

Ask yourself who benefits from higher home prices.

Yeah.

The MID is a massive wealth transfer scheme up the food chain. Just like most tax expenditures.

 

[sealybobo]

The next notion would be taking baby steps. Why don't we cut gov't spending??

Because you won't like what we cut and we won't like what you cut. So cut the shit and lets close the loopholes so rich people are paying what they should be paying.

Trump went from 10 million to $8 billion. There aren't too many loopholes and rich people don't pay too much in taxes.

 

[g5000]

If a feudal lord had 20 serfs under him, and his annual expenditures came to $1000, he would have to tax each serf $50 to achieve a balanced budget.

If he then took $200 of this money and returned it to 5 of his favorite serfs, he would have $800 left. Not enough to cover his $1000 in expenses. And so he needs to tax everyone an additional $10 to balance his books. In short, he would have to raise the tax rates by 20 percent on everyone to come out even and to give the $200 gift to his five favorites. Or else he would have to borrow $200 (deficit spend) to give to his five favorites.

This is the system we have today.

Those 5 inner circle serfs tell themselves, "Woo hoo! I get to keep more of my money! Yay!", completely oblivious to the fact everyone is paying higher tax rates because of them, including themselves.

Instead of paying $50 in taxes, the other 15 serfs who are carrying them are paying $60 in taxes.

Bad for the economy. And wealth begins to unnaturally concentrate up to the favored five.


If we eliminated tax expenditures, we could lower EVERYONE's tax rates. It's as simple as that. You are paying HIGHER tax rates right now to pay for the $1.2 TRILLION in government gifts every year that are given away through exemptions, deductions, and credits. Expenditures which transfer wealth UP the food chain.

You are a total sucker if you think you are getting to keep more of your money. And every deduction you take advantage of is coming out of someone else's pocket. And it is coming out of your own pocket, too.